The Sullivan County Commission voted Monday to accept a bid of $97,000 for the former Cedar Grove Elementary School in Bloomingdale. Times-News file photo.
BLOUNTVILLE — The Sullivan County Commission voted Monday to accept a bid of $97,000 for the former Cedar Grove Elementary School in the Bloomingdale community near Kingsport.
That was the final bid in a public auction of the property that was held on Saturday, the owner of the auction firm that conducted the sale told commissioners.
The commission’s Building Committee had at one time said $50,000 was the minimum price for the property — but before this sale that was instead changed to a suggested starting point for bids.
Jerry Petzoldt, owner of TCI Group-Jerry Petzoldt Agency, LLC, said the auction attracted three bidders.
The winning bid was placed by a Kingsport realtor representing a company called ATAY LLC, Petzoldt told the commission.
Petzoldt said he doesn’t know who owns that company or how they plan to use the property.For an expanded version of this article, please see Tuesday's print edition or our expanded electronic edition.